Keybot the Quant is bearish to begin the four-day holiday-shortened week of trading. Markets are closed on Friday in observance of Good Friday. Easter is Sunday. The bears are cruising. The failure in semiconductors create bear fuel. The algo is tracking semi's and copper, SOX 563.50 and JJC 37.60, respectively. Both are creating bearishness and should serve as the first sign that bulls are staging a come back rally. If both remain bearish, the market negativity will continue and markets will drift lower.
For the SPX starting at 1816, the bulls need to recover Friday's big drop of 17 points to regain their mojo, a formidable task. Instead, bulls will try to push semi's and copper higher to stop the market bleeding. Bears need to push under 1814 to accelerate the downside, only a point or two lower. A move through 1815-1834 is sideways action for Monday. S&P futures were -5 last evening then recovered to +1 overnight and over the last hour have dropped back down to -5 (5:30 AM EST) which would make for happy bears. Keybot prints one pre-scheduled number this week on Wednesday morning.
4/20/14;
7:00 PM EST =
4/16/14;
9:00 AM EST =
4/13/14; 7:00 PM EST
= +1; signal line is +31
4/11/14;
10:00 AM EST = +1; signal line is +33
4/11/14;
10:00 AM EST = +17; signal line is +35
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